Converting Your Dental Practice Into a Dental Business

As The Dental Guys said, “This episode will challenge many of the things you take for granted about your dental practice and it will force you to think differently about what is possible.” The Dental Guys ask direct questions and T-Bone gives candid answers that disrupt their thinking. This high-energy conversation covers a broad range of possibilities that could turn your current dental practice into a thriving dental business.

Figure out what motivates you and let that guide your business decisions

According to T-Bone, most people are motivated by one of three things; money, time, or satisfaction. The decisions you make regarding your dental business can be shaped around your motivation. In this episode, T-Bone challenges The Dental Guys to think about their motivation and make corresponding changes to their dental practices. What motivates you? Think about it and listen to this podcast to discover how to build a dental business that fits your motivation.

Personal and professional savings plans are essential for your dental business

When you are converting your dental practice into a dental business, financial risks are a part of the process. In this episode, T-Bone lays out the details of how personal and professional savings plans prepare you for those risks and make growth and change possible. He explains how to painlessly build up your savings so that financial pressures no longer keep you from building the business that you want. Listen in and get ready to save!

You need an associate; here’s how to work with one

What are your favorite dental procedures? Do you want to do more advanced dentistry? An associate in your practice can enable you to grow personally and move on from fillings and crowns to the procedures that you enjoy, that are more productive, and that help you build your dental business. In this episode, T-Bone and The Dental Guys discuss this at length, addressing the issues of how to hire an associate, the challenges of working with today’s young dentists, and how to make it possible for your associate to advance his or her skills while still maintaining the high standards of your practice.

Medical Billing: Get paid for what you’re doing now for free

Many dentists are unaware of all the visits and procedures that can be covered by a patient’s medical insurance. Several of these are things that you are doing already, but not billing for. Others are procedures that have a much higher reimbursement through medical insurance than through dental. In this episode, T-Bone identifies three ways to do medical billing and talks about where to get the training you need to make it happen. If you want to make more money in your dental business, you want to listen to this interview!

Outline of This Episode [0:25] Jon & Wes, The Dental Guys, introduce T-Bone. [1:12] Why T-Bone decided to stop personally doing fillings and crowns. [5:49] The distinction between a dental practice and a dental business. [7:51] What motivates you? [14:31] Why you need a personal and professional savings plan (and how to start one). [22:02] Why dentists need to update their mindset to 2017 (and what that looks like). [25:49] How to overcome implementation challenges after CE events. [29:51] How to make more money in your dental practice. [34:58] Smart people make money off other people’s efforts. Delegate. [39:24] Figure out what motivates you and let that drive your business decisions. [40:08] You need an associate; Here’s how to work with one. [43:27] Responding to the challenges of working with today’s young dentists. [48:49] How do you help your associate build his or her skillset. [53:38] A mindset of always wanting to learn is essential, for yourself and your associate. [58:06] We don’t lack mentors, we lack good apprentices. [1:06:22] Medical billing: Get paid for what you’re doing now for free. [1:17:05] Three ways to do medical billing. [1:25:56] Synopsis of T-Bone’s practice: Produce more, doing less. Resources & People Mentioned The Dental Guys Podcast The Dental Guys Facebook page T-Bone’s medical billing classes 3D-Dentists.com Medical billing education - Hootan Shahidi Medical billing education - Chris Farrugia Medical billing education - Dr. Z Listen to the entire interview